Why did WorldCom accountants go along with Bernie Ebbers manipulations? Was it not because they were greedy and did not care where the money was coming from, but just as long as they got paid. And they were getting paid a lot of money to look the other way?
The WorldCom accounting scandal involved fraudulent financial reporting that ultimately led to the company's bankruptcy in 2002. While it is difficult to generalize the motivations of all the accountants involved, various factors contributed to their involvement in Bernie Ebbers' manipulations:
1. Organizational Culture: WorldCom had a culture that emphasized the pursuit of financial success at all costs. The company's aggressive growth strategy put immense pressure on employees to meet financial targets, which may have led some accountants to compromise their ethical standards.
2. Fear of Retribution: Bernie Ebbers, as the CEO of WorldCom, had significant influence and control over company operations. Some accountants might have been fearful of challenging or reporting his manipulations due to the potential consequences for their careers or job security.
3. Loyalty and Groupthink: In certain cases, loyalty to the organization and a desire to maintain group cohesion can influence individuals to turn a blind eye to improper actions. Accountants may have felt a sense of solidarity with their colleagues and superiors, making it difficult for them to challenge or question unethical practices.
4. Financial Incentives: It is possible that some accountants were motivated by financial incentives to participate in or remain silent about the fraudulent activities. The promise of high salaries, bonuses, or other financial benefits might have driven individuals to ignore or overlook the irregularities.
However, it is important to note that not all accountants at WorldCom were complicit in the scandal. The fraudulent actions were orchestrated by senior executives, while many accountants were likely unaware or unknowingly involved in the manipulation of financial statements.
To better understand the accountants' motivations in a specific case, one would need to review the available evidence, such as court proceedings, internal investigations, or testimonies, to ascertain the individual roles and motivations behind their actions.